Capital Requirements Directive V (“CRD V") is an EU legislative package covering banks, building societies and investment firms. It requires firms to hold adequate capital resources and provided a basis for new liquidity and leverage requirements. The Annual Report & Accounts together with our Pillar 3 Disclosures provide more information on the impact of these requirements.

Certain other governance matters must be disclosed under CRD V.

The Society’s diversity target, policy and implementation

Coventry Building Society is dedicated to increasing diversity on its Board, with progress in this area remaining a priority, and has retained its ambition to achieve gender balance on the Board, with a restated target date of 2028.

To fulfil these ambitions, Coventry Building Society undertakes a wide variety of actions; including internships, apprenticeships and graduate programmes, internal development programmes that enable more diverse talent pools from within Coventry Building Society for senior positions, as well as mentoring and sponsorship. Coventry Building Society also partners with external recruitment specialists who bring experience and a track record of diverse placements. Whenever a Board vacancy arises, diversity is an important factor in any recruitment activity.

Relationship between fixed and variable pay
 

Article 92(2)(g) deals with the policy relating to the relationship between fixed and variable pay. Coventry Building Society’s variable pay awards in respect of the financial year are currently a maximum of 200% of fixed pay.